BIDENS BEEF WITH BIG BEEF
Written by Peter Boykin on January 5, 2022
BIDEN'S BEEF WITH BIG BEEF
Since taking office, Joe Biden has presided over the largest inflation crisis since the 1970s – capped off with a staggering 6.8% inflation rate to end the year.
And the inflation is across the board, both in commodities [meat, lumber, fruit] and assets [homes, cars]. But for whatever reason, Biden is taking his inflation frustration out on the beef industry.
https://rumble.com/vs91e1-bidens-beef-with-big-beef.html
The plan: The Biden regime announced yesterday that it plans to bring down meat prices by increasing regulations on meatpackers and offering more federal dollars to small packers in order to increase competition in the market.
According to Fox Business:
Biden will target major beef, pork, and poultry packing firms, launching a portal for “reporting concerns about potential violations of the competition’s laws,” arguing that the spike in prices was due to the companies paying less to producers and charging more to grocers.
They will also offer $1 billion in grants, loans, and worker training to small meat processors.
Biden took direct aim at the biggest meat producers, deriding the fact that “four large meat-packing companies control 85 percent of the beef market.” His suggestion is that their control over the market has increased prices over the past year.
But that doesn’t make sense. As I mentioned earlier, prices are up across the board. Producer prices increased 9.6% to the end of 2021, the highest ever. What’s Biden’s plan for oil? Automobiles? Homes?
Sarah Little, spokesperson for the North American Beef Institute argues:
“There have been 4 firms operating in the fed cattle market for nearly 30 years. Why inflation now? Labor remains the biggest challenge. Our members of all sizes cannot operate at capacity because they cannot employ a long-term stable workforce.”
I have no stake [get it?] in this fight, other than when I buy a steak at the grocery store. But it’s stuck out to me that as soon as inflation started to soar, Biden has consistently jabbed Big Beef – almost like he has a personal vendetta.
Source: https://fortune.com/2022/01/03/biden-inflation-food-prices-meat-packing/
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